TrustCo Bank Corp NY (NASDAQ:TRST) Issues Earnings Results

TrustCo Bank Corp NY (NASDAQ:TRST) issued its quarterly earnings results on Monday. The bank reported $0.75 earnings per share (EPS) for the quarter, Zacks reports. TrustCo Bank Corp NY had a return on equity of 7.37% and a net margin of 18.56%.

TrustCo Bank Corp NY Stock Performance

NASDAQ:TRST traded down $0.09 during mid-day trading on Monday, reaching $28.43. The stock had a trading volume of 104,377 shares, compared to its average volume of 91,859. The stock has a market capitalization of $540.74 million, a P/E ratio of 11.06 and a beta of 0.71. The firm has a 50 day moving average price of $30.68 and a two-hundred day moving average price of $32.88. TrustCo Bank Corp NY has a one year low of $26.14 and a one year high of $38.89.

TrustCo Bank Corp NY Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 5.07%. TrustCo Bank Corp NY’s payout ratio is 56.03%.

TrustCo Bank Corp NY declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 18th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

About TrustCo Bank Corp NY

TrustCo Bank Corp NY operates as the holding company for Trustco Bank, a federal savings bank that provides personal and business banking services to individuals and businesses. The company accepts deposits; and offers loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage-backed securities.